Business Daily from THE HINDU group of publications
Sunday, Apr 08, 2007
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Business Daily from THE HINDU group of publications Sunday, Apr 08, 2007 ePaper |
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Industry & Economy
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Taxation Service tax collections target fixed at Rs 50,100 cr Our Bureau
Mr Gautam Bhattacharya
Visakhapatnam April 7 The target for service tax collections in the country during the current financial year has been fixed Rs 50,100 crore, according to Mr Gautam Bhattacharya, Commissioner of Service Tax, the Central Board of Excise and Customs. Mr Bhattacharya, who is here to participate in a seminar tomorrow organised by the Tax Law Research Group, said collections last fiscal might be Rs 38,000 crore. Originally, the target for the year was fixed at Rs 34,500 crore but subsequently, it was revised to Rs 38,000 crore. "The final figure is to be computed yet. It may take another fortnight or so. But we are confident of achieving the revised target and during 2007-08 we are hopeful of crossing the Rs 50,000-crore mark," he said. He said there were four lakh service tax assessees in the country and e-payment was mandatory for those paying tax above Rs 50 lakh. In response to a question, he said smaller service providers such as small courier operators need not worry about the tax, as the exemption limit had been raised to Rs 8 lakh.
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